Adaptable workspace platform Stylework raises $1 M second close of Pre-Series B round
In the second closing of its pre-Series B round, adaptable workspace platform Stylework raised $1 million in equity fundraising under the leadership of Auxano Capital. HNIs, institutional investors, and family offices also participated in the round.
The most recent investment brings the total pre-Series B funding to over $3.5 million. It comes after the first close of the round, which was supported by Equentis Angel Fund, Karekeba Ventures/Cogniphy AIF Fund, MoneyVyapaar, and LetsVenture Fund.
Over $6.5 million has been raised thus far in four investment rounds.
The money raised will be utilized for enterprise alliances, technological platform strengthening, and market expansion into tier I and tier II markets.
Stylework, which was founded in 2016 by Spaarsh Khandelwaal, provides a platform for businesses in India to access and manage flexible workspaces.
Currently, Stylework links companies with over 10,000 workplace centers in 125 cities. With an annual net sales run rate of more than Rs 50 crore, the company recorded a GMV of more than Rs 340 crore this year. Additionally, it reports a profit of more than Rs 2 crore, claiming to be profitable for the second year in a row.
Coworking and managed office solutions, meeting room access, Flexipasses, and multi-location workspace services are among its products. Businesses can manage occupancy, staff rostering, workspace budgeting, and access controls with its SaaS platforms, Flexboard and Stylework.ai.
